Regional Formation and Development Studies

For successful economic transition to the new stage of development improvements in business environment, as also the entrepreneurswho are ready to start your own business and to set up new companies. One of the main challenges the EU Member States face isthe need to boost their level of entrepreneurship and to become more competitive in the global market. That was one of the mainobjectives set by the Lisbon European Council, in March 2000, with a view to improving the Union’s performance in terms of employment,economic reform and social cohesion. Entrepreneurship is not only a driving force in the creation of new jobs, but it alsoincreases and enhances competitiveness and growth, personal fulfilment and the achievement of social objectives. The authors payspecific attention to the need to examine factors that affect the business environment development and entrepreneurship in regions ofLatvia, which determinethe complexity of the existing conditions and factors in each region in Latvia.

We are living in world of dynamic changes, and transformations of global systems and the environment around us leave an impact

Innovation and an innovative approach in management, education and leadership have been changing over decades, according to the dynamic world we are living in. Changes start at an individual level, with the personality, and only those who have changed themselves can start to lead others towards global change. The Latvian National Development Plan defined aspects of polycentric development for all the regions of Latvia. Each region has resources, strengths, weaknesses, opportunities and threats, but human resources are the most important resource for change, creative ideas and sustainable development. The education system changes very slowly, from lecture learning to a more inclusive ‘learning by doing’ approach. This approach has been used in northern countries for a while, but Latvia has just now started to implement the approach. The term ‘innovation’ today is wider than product, process, service or organisational innovation. At a national and regional level of development, it is crucial to encourage inhabitants of the region to stay in or return to rural areas, and create knowledge and enterprises in the region and their home town.The aim of the paper is to evaluate the involvement of residents in management activities and regional development processes, and their willingness to participate in the creation of knowledge and innovative entrepreneurship and co-creation. The paper is a review of literature on theoretical aspects of the creation of innovation in the region in a combination of survey analyses of residents. The methodological approach is based on two steps: a review of research literature, and an analysis of the results of a survey of residents of the region of their willingness to be involved in processes and tasks for regional development, and some aspects of analysis of entrepreneur opinion about innovative solutions in their companies. The article consists of four main parts: 1) the theoretical findings of a systemic approach to innovation and development; 2) the role of the innovation process in development from different perspectives; 3) an analysis of a survey of the region’s residents about their willingness to be involved in processes of regional development; 4) aspects of innovation used in regional entrepreneurship. The significance of the paper is to define aspects of regional development relating to innovation and co-creation.

The article aims to show that the main and most important prerequisite for successful hotel business growth in current promptly changing business environment becomes development of innovation in the hotel industry. Though the term innovation is already widely defined by many researchers, it is considered in the article as a subject for future discussions leading to proposed scientific classification of innovations based on selected criterions. Evaluation of the process of innovation appearance in the hotel market allowed creation of the model, presenting the main influences and attributes of the whole innovation process in a hotel industry. Afterwards, the article discusses some specific innovation tools that are essential for hotel enterprises and which could be challenging for hoteliers in Ukrainian market nowadays. Based on the empirical research results, the obstacles which hinder up-to-date innovative operations in Ukrainian Radisson chain hospitality market are discussed. As well, concerning prospective innovation trends for Radisson Hotels in Ukraine, advices for future innovation implementation were proposed.

Innovation development process in companies is described by several challenges. One major problem is that there is much confusion about what it takes to develop innovations and what factors affect the innovation development process. The paper focuses on innovation process’ affecting factors in Latvian market. The paper’s goal is to identify main factors that affect the innovation process the Latvian companies. After surveying 128 companies, authors concludes that many factors affects innovation process and none of them should be ignored. Following factors affect innovation process the most and therefore should be analysed more deeply: 1) The company’s own resources; 2) High employees knowledge, competencies, skills and experience; 3) Investors’ attraction opportunities. Research also emphasises importance of company’s human resource, therefore authors suggest companies to look at their employees from different paradigm and approach them as the most valuable company’s asset.